Inphi Corp. (IPHI): Pullback Is A Halloween Treat - Needham
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Needham & Company analyst, Quinn Bolton, reiterated his Strong Buy rating on shares of Inphi Corp. (NYSE: IPHI) and suggested buying ahead of earnings.
The analyst stated "The multiple drivers of the optical super cycle remain intact. Specifically, we believe the latest round of RFPs from Chinese service providers, robust results from Intel, AWS and Microsoft in the hyperscale data center segment and increased spending on metro deployments at several North American service providers provide strong visibility through 2Q17. Accordingly, we see the pullback in optical related names following mixed data points from Corning, Adva and Infinera as a buying opportunity."
No change to the price target of $45.
Shares of Inphi Corp. closed at $37.06 yesterday.
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